How Data And AI Are Powering Change At 180 Year Old New York Life

New York Life is the largest mutual life insurance company in the United States and having been founded 180 years ago, it is one of the oldest, as well. The company has remarkable scale with over a trillion dollars in policies and approximately $58 billion in annual revenue. In recent years, New York Life has embraced technology and artificial intelligence to enhance its operations, a journey spearheaded by Don Vu, its Chief Data & Analytics Officer.

Vu had prior experiences a data and analytics leader at Northwestern Mutual and WeWork, but he got his first leadership roles associated with data working for the most data-centric American sport: Major League Baseball. Vu spent 13 years with MLB Advanced Media, managing consolidated data for all 30 baseball teams. “It was a data geek’s dream,” he recalled. “We built a video streaming platform that was later white-labeled for major properties like HBO and WWE. It was true big data, with high-velocity streaming and complex models for churn and recommendations.”

His time at MLB taught him the value of centralized data and scalable platforms, lessons he’s carried into his role at New York Life. “The nature of data leadership has changed dramatically over the years,” Vu observed. “It used to be about governance and guardrails. Now, it’s about value creation. Generative AI accelerates this shift, enabling us to move faster and achieve more.”

Redefining Data Strategy at New York Life

At New York Life, Vu’s role involves steering both data and AI strategies, which he noted are inextricably linked. This alignment reflects a broader strategic shift initiated by New York Life CEO Craig DeSanto, who prioritized client and agent experience over a traditional product-centric focus. “People presume that an old company is a sleepy one,” Vu said. “It’s not. Craig’s vision spans the entire business, enabling a flywheel effect where tech, data and AI flow across the organization.”

To support this transformation, Vu outlined four key pillars of the company’s data strategy:

1. Data Foundation: Building the right talent, processes and technology infrastructure.
2. AI Intelligence and Analytical Insights: Developing robust capabilities to generate actionable insights.
3. Cultural Integration: Fostering a data-driven culture through initiatives like hackathons and expos to share the “art of the possible.”
4. Customer and Advisor Experience: Enhancing client journeys by aligning offline and online touchpoints with business strategy.

“Our mission is to activate the power of New York Life’s data through enterprise AI and data products,” Vu explained. “It’s all about delivering tangible business impact.”

The Role of Generative AI

Under Vu’s leadership, New York Life has leaned heavily into generative AI to unlock new opportunities. The company has partnered with industry leaders like OpenAI, Anthropic and AWS to stay on the cutting edge of AI innovation. “We’ve been intentional to ensure AI is properly funded, with the right guardrails but also a paved road,” Vu noted.

Key areas of focus include service and claims processing, where pilots and proofs of concept have already moved into production. “We’ve had some successful initiatives and some that didn’t work out, but we’re always learning,” he highlighted. “The next frontier is going to be incredible, especially with vertical applications tailored to agents and clients.”

Vu emphasized the importance of embedding AI into all parts of the organization’s value streams—six in total—ranging from client prospecting to retention and advisor experience. By aligning data and AI with business objectives and key results (OKRs), the company ensures a cohesive approach to innovation.

Building a Data-Driven Organization

To execute his vision, Vu has built a robust team of leaders:

• Chief Data Officer: Overseeing data engineering and governance.
• Chief Data Science Officer: Leading AI and machine learning initiatives.
• AI and Data Product Organization: Creating new disciplines to drive innovation.
• Head of Strategic Insights: Ensuring enterprise-wide alignment and a holistic perspective.
• Head of Operations: Ensuring seamless execution across teams.

“We’re fortunate to have a mix of long-tenured leaders who understand the organization and new talent bringing fresh perspectives,” Vu said. This blend of expertise has been pivotal in driving change while respecting the company’s deep-rooted legacy.

Future Outlook

At New York Life, Vu sees a similarly transformative future. “We’re just scratching the surface of what’s possible with data and AI,” he emphasized. “With the right strategy, tools and culture, we can continue to enhance our client and agent experiences while staying true to our 180-year legacy.”

Vu’s leadership exemplifies the power of data to drive meaningful change, proving that even the most established organizations can innovate and thrive in a rapidly evolving digital landscape.

Peter High is President of Metis Strategy, a business and IT advisory firm. He has written three bestselling books, including his latest Getting to Nimble. He also moderates the Technovation podcast series and speaks at conferences around the world. Follow him on Twitter @PeterAHigh.